Borussia Dortmund (BVB) Q4 2026 earnings summary

Executive summary

• Consolidated revenue for 2025/2026 was EUR 460.5 million, down from EUR 526.0 million year-over-year, mainly due to lower TV marketing income and reduced Club World Cup proceeds.

• Net loss for the year was EUR 21.7 million, compared to a net profit of EUR 6.5 million in the previous year.

• Separate financial statements under HGB showed a net loss of EUR 17.1 million, versus net income of EUR 7.7 million last year.

Financial highlights

• EBITDA was EUR 92.2 million, down from EUR 115.9 million year-over-year.

• Earnings before taxes (EBT) were EUR -20.3 million, compared to EUR 9.5 million in the prior year.

• Net transfer income rose to EUR 59.3 million from EUR 37.8 million year-over-year.

• Personnel expenses decreased by EUR 8.4 million to EUR 259.9 million.

• Other operating expenses fell by EUR 16.9 million to EUR 145.4 million.

Outlook and guidance

• Projected consolidated net profit for 2026/2027 is between EUR 0 million and EUR 10 million.

• Guidance may be revised based on transfer deals or sporting success.